Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Teddy who wrote (6356)	12/31/1997 12:05:00 PM
From: Grommit	Read Replies (1) \| Respond to of 95453

Ahoy! Not me. Boats up 15% this week. :o) quote.yahoo.com And I still need to find a good driller to purchase... PDS looks good at 1st glance, but aren't the deep water supposed to be in a better segment now? SDC or RIG someone else? Help please...

To: Teddy who wrote (6356)	1/1/1998 8:44:00 AM
From: Teddy	Respond to of 95453

Dow Jones Newswires -- December 31, 1997 Oil-Services Stocks Rise As Sector Rebounds NEW YORK (Dow Jones)--Shares of oil-services and drilling companies rose Wednesday as the group continued to rebound from the selloff that sent it lower in November and most of December. In a choppy stock market, the Dow Jones index of oilfield equipment and services stocks rose 2.6% on a market-capitalization weighted basis; and the Dow Jones index of oil-drilling stocks rose 2.2%. Wednesday's rise continued the rebound, began last week, in the stocks of companies that supply rigs, drill bits, measurement systems, and other tools and services to support drilling for oil and natural gas. Although analysts who follow the industry continue to be optimistic about continued growth, worries about valuation and momentum scared investors, who sent stocks in the group down sharply, falling 30% since late October. "We're seeing, perhaps, that finally the year-end selling pressure has abated," said Schroder & Co. analyst James Stone. He said Investors' concerns were mainly sparked by oil prices, which fell more than 12% over two months, raising questions about whether oil companies would reduce their spending on oil services. That has yet to happen, but oil prices continue to be a concern. Carol Lau, an analyst at CIBC Oppenheimer Corp., said: "The next couple of months will be shaky," for the oil-drilling stocks. Stone said he hopes that the current rally in the oil-services stocks can be sustained by optimism over next month's quarterly earnings reports and rounds of conference calls with management. "People are seeing that these stocks have really been beaten up, and yet their earnings profile looks good," Stone said. Among the oilfield-equipment stocks that rose Wednesday, Halliburton Co. (HAL) advanced 2 7/16, or 5%, at 51 7/8; Cooper Cameron Corp. (RON) gained 1 5/8, or 2.7%, to 61; and Smith International Inc. (SII) rose 2, or 3.4%, to 61 3/8. Among drilling contractors, Noble Drilling Corp. (NE) advanced 1 3/8, or 4.7%, to 30 5/8; Rowan Cos. (RDC) gained 13/16, or 2.7%, to 30 1/2; and Diamond Offshore Drilling Inc, (DO) rose 1, or 2.1%, to 48 1/8. -Loren Fox; 201-938-5267; loren.fox@cor.dowjones.com